As it begins its second phase of growth in India, Swedish furniture giant Ikea is launching a comprehensive expansion strategy. To make its products more accessible to Indian consumers, the business wants to enhance local sourcing, operate online in Delhi-NCR by the end of 2024, and use a variety of retail formats. The CEO of Ikea India, Susanne Pulverer, emphasised the firm's dedication to long-term expansion in the Indian market. She stated, "Our next growth phase in India looks very promising and full of opportunities. IKEA is committed to India and here for the long term. We are looking at an omnichannel expansion in India with diverse retail formats to come closer to the many people in India."

In this new phase, Ikea plans to accelerate its expansion, building on the insights gained from its first five years of operations in India. The company has already invested Rs 10,500 crores to establish five stores in India and has announced investments in two large shopping centers in Gurugram and Noida, both featuring integrated Ikea stores. Delhi NCR is identified as Ikea's next significant market, with online operations set to commence by the end of 2024, followed by the opening of the Ingka Centres Gurugram project in 2025. After Delhi, Ikea is considering expansion into other cities such as Pune and Chennai. Pulverer stressed the importance of establishing a strong omnichannel presence in each market, combining flagship stores with different format services fulfillment setups. She noted that full-size Ikea stores have performed well in India, serving as the foundation for their retail strategy.

Regarding investments, Pulverer hinted at a long-term commitment to India, saying, "We are only in the beginning of reaching people in India. So we will have to invest much more. We are here for the long term." Additionally, Ikea aims to increase its local sourcing share in India, making its products more affordable for Indian consumers. The company is also exploring the possibility of manufacturing wooden products in India. Reflecting on Ikea's five years of operation in India and its 40-year history of sourcing from the country, Pulverer highlighted the importance of managing supply chains effectively, especially during the pandemic. She emphasized Ikea's desire to be a part of India's growth story and a responsible business partner. For the financial year ending on March 31, 2022, Ikea India reported a 77.07% increase in net sales/revenue, reaching Rs 1,076.1 crore. These developments signify Ikea's commitment to expanding its footprint and enhancing its local presence in India, one of its key growth markets.